Digital Asset (Tables)

3 Months Ended

Mar. 31, 2024

Digital Assets [Abstract]

Schedule of Digital assets (Bitcoin and Tether)

Digital assets consisted of the following:

		March 31, 2024		December 31, 2023		March 31, 2023
Bitcoin	$		11,637,319	$	3,406,096	$	1,751,914
Tether			14,650		10,160		-
Total digital assets	$		11,651,969	$	3,416,256	$	1,751,914
Bitcoin
		March 31, 2024		December 31, 2023		March 31, 2023
Number of Bitcoin held			163.4		95.1		83.6
Carrying basis - per Bitcoin		$	48,046	$	35,816	$	20,956
Fair value - per Bitcoin		$	71,306	$	42,273	$	28,486
Carrying basis of Bitcoin		$	7,850,671	$	3,406,096	$	1,751,914
Fair value of Bitcoin		$	11,637,319	$	4,020,202	$	2,381,442

Schedule of Rollforward of Bitcoin

The following table presents a roll-forward of Bitcoin for the three months ended March 31, 2024, based on the fair value model under ASU 2023-08:

		March 31, 2024
Bitcoin as of December 31, 2023	$		3,406,096
Cumulative effect of the adoption of ASU 2023-08 (See Note 1)			614,106
Beginning balance: Bitcoin as of January 1, 2024			4,020,202
Addition of Bitcoin from mining activities			4,597,908
Disposition of Bitcoin from sales			(1,296,232	)
Gain on fair value of Bitcoin, net			4,315,441
End of period	$		11,637,319

The following table presents a roll-forward of Bitcoin for the three months ended March 31, 2023, prior to the adoption of ASU 2023-08, based on the cost less impairment model under ASC 350:

	March 31, 2023
Beginning of year	$	888,026
Purchase of Bitcoin		35,157
Production of Bitcoin		2,090,851
Impairment loss on mined Bitcoin		(199,554	)
Carrying amount of Bitcoin sold		(1,062,566	)
End of period		1,751,914